Do You Have Enough Boat Insurance?

HomeBlogDo You Have Enough Boat Insurance?

When considering boat insurance, you want adequate coverage to protect your investment so you can enjoy being out on the water. Let’s explore factors to consider, coverage types, and common misconceptions about boat insurance to help you determine if you have enough coverage.

Do You Have Enough Boat Insurance?

  • Type and Size of Boat – The type and size of your boat significantly influences your boat insurance needs. Larger boats, such as yachts, require more specialized and broader coverage due to their unique exposures and travel distances.
  • Usage and Navigation Area – How and where you use your boat affects the coverage needed. For example, coastal areas are considered high-risk due to potentially severe weather. We’ve helped boat owners find the best insurance coverage based on where and how they use their boats.
  • Ownership Experience and Claim History – We look at your experience operating boats and claim history. A clean record and substantial boating experience usually affect your rates well.

Types of Boat Insurance

Boat insurance policies can be broadly categorized into agreed and actual cash values. The former covers the boat based on its value when the policy was written, while the latter takes depreciation into account. An all-risk policy covers all types of losses except those specifically excluded and is recommended for comprehensive protection.

By considering the type and size of your boat, how and where you use it, your experience, and the safety features installed, you can work with our agents to tailor a policy that provides adequate protection. Remember, the goal is to enjoy your time on the water without worrying about the financial implications of unforeseen incidents. Call us today or get a quote.